New Rye Town Law Requires Income and Expense Docs with Tax Certs

 This is a portion of summarized updates from the June 18 Town Board meeting that Rye Town volunteer media coordinator Dick Hubert has submitted to the press.

The Rye Town Board unanimously passed Town Law # 1, which requires commercial property owners who file certioraris protesting their property assessment to also file income and expense statements no later than seven (7) days after filing their grievance or by August 1, 2013 for any grievance filed in 2013.

Failure to file will result in a penalty “not to exceed 3% of the assessed value of such income producing property.”

Supervisor Carvin said of the new law: “The new cert law is a game changer. It is extremely difficult to know if we have made a mistake on a valuation without the income and expense statement. Getting our compliance rate from 27% to 100% will fundamentally change that dynamic.”

Rye Brook Mayor Paul Rosenberg, who attended the meeting, took briefly to the podium to congratulate Supervisor Carvin and the Town Board for passing this law, and noted that the Rye Brook Board had passed a resolution unanimously endorsing the legislation.